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Updated: May 16, 2025
Each supplier might have different views on the level of prices which the demand would sustain, or might have different price preferences according to its cost conditions and market share. A company might think it has certain advantages which its competitors do not have, and would perhaps perceive a conflict between maximising its own profits and maximizing industry profits.
An act, for example, which implies deliberation proves a greater insensibility to these social motives which, as Bentham remarks, determine the 'general tenor of a man's life, however depraved he may be. The legislator is guided solely by 'utility, or aims at maximising happiness without reference to its quality.
When the sovereign becomes also the society, the power is regarded as equally absolute, though now applied to the desirable end of maximising happiness.
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